The B.C. government’s $100-million BC Tech Fund, a key part of the #BCTECH Strategy, launched October 21, 2016 with the announcement of its new fund manager and an initial investment in a B.C. technology company.
The BC Tech Fund is a 15-year ‘fund-of funds’ – a fund that will invest in multiple BC-based venture capital funds and co-invest with other venture capital fund partners into B.C. companies – providing a diversified portfolio of investments in multiple subsectors.
Investments will be targeted in the technology sector, including digital media, information communications technology (ICT), life sciences and clean technology. Over the lifetime of the agreement, BC Tech Fund investments in B.C. companies will help those businesses create high-paying jobs for British Columbians and substantially increase the province’s technology footprint.